i live in the USA. I am into exporting motorcyles from uSA to worldwide.
I just got a contract worth $250,000 of motorcycles to Asia by a Irrevocable L/C at sight. I need to finance the export, pre-export financing to buy the motorcycles and ship them;i found out that in the USA banks will not give me a loan against the L/C as collateral, like they do it in Asia/Europe.
Banks could advance me money if it was a Standby L/C. I approached my customer, he does not want to do a Standby L/C (this is our first deal); i read that Standby L/C are very secure also;
How would you do this close the deal with customer?
I approached ex-im bank (only for US goods, motorcyles are japanese made, so no go)and SBA (i am not american, no go).
Should I persuade customer to do a stanby L/C by proving him that it is safe for him?any good website?
Any advice on how to get a business line of credit against my orders received?
Thank you for any help.
cedric
